Market Size of Indonesia Nitric Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Indonesia Nitric Acid Market Analysis
The nitric acid market in Indonesia is projected to register a CAGR of over 4% during the forecast period.
The COVID-19 outbreak caused worldwide lockdowns, disruptions in manufacturing activities and supply chains, and production halts, all of which harmed the nitric acid market in 2020. However, after the pandemic, the demand for nitric acid recovered in Indonesia.
- The growing adoption of nitric acid in fertilizer is driving market growth.
- The use of nitric acid in the chemical industry for manufacturing adipic acid, nitrobenzene, and other chemical manufacturing is also a blooming opportunity for the market studied.
- The adverse effects of nitric acid on human health are hindering market growth.
